Client came to NFG for a loan against their unencumbered drill rig in WA. The client needed the funds urgently for business cash flow as they had signed a major work contract and needed urgent cash flow to complete the jobs. The loan was secured on the drill rig only.
Exit: Cash flow from competed works.
90% LVR Lend:
Client needed $550,000.00 to pay for a shipment of goods that arrived from China. Client had a property worth $4 million however the debt was $3.2 million (without NFG’S Loan). Client wasn’t able to get finance from a traditional lender as the LVR was too high. NFG secured the property via caveat at an LVR of 90 % as the client had a guaranteed exit.
Exit: Client had a guaranteed take out from a government department which was verified by NFG’s solicitors. Scenario settled in 2 days.